PropertyShark Real Estate Bloghttp://www.propertyshark.com/Real-Estate-Reports
Market Reports for Real Estate WritersTue, 31 Mar 2015 09:50:14 +0000en-UShourly1http://wordpress.org/?v=4.1.1How to Determine the Market Value of a Property Using PropertyShark’s Compshttp://www.propertyshark.com/Real-Estate-Reports/2015/03/31/how-to-estimate-the-market-value-of-a-property/
http://www.propertyshark.com/Real-Estate-Reports/2015/03/31/how-to-estimate-the-market-value-of-a-property/#commentsTue, 31 Mar 2015 09:37:03 +0000http://www.propertyshark.com/Real-Estate-Reports/?p=16053In real estate, evaluating local market conditions is a must before committing to any kind of deal. One of the easiest and most efficient ways ...

]]>In real estate, evaluating local market conditions is a must before committing to any kind of deal. One of the easiest and most efficient ways to determine how much a property is worth is by running a comparables search. And we’ll show you how.

Search for recently sold homes in the same area as your target property

Let’s say you found an interesting investment opportunity in Los Angeles‘ Hollywood, a neighborhood chock full of history, glitzy homes, and great entertainment options.

First thing you need to do is go to PropertyShark’s Comparables section and type in the address of the property you’re interested in – a condo unit at 850 North Hudson Avenue #302 in our case. By default, PropertyShark will show you sales that have occurred within the last 6 months, within a half mile radius of the property.

And you can easily customize your search by selecting your own comparable criteria.

View local market statistics

The search will return a series of relevant market stats with key indicators of the status of the real estate market in that specific area, such as median price, median price per square foot, median gross square feet, lowest price, highest price, and more.

Keep in mind that even properties on the same street can vary a great deal. To get as close as possible to the real market value of your target property when running your comps search, you’ll need to consider relevant factors and home features such as:

Property type

Location

Square footage

Number of bedrooms and bathrooms

Year built

For an even more accurate assessment of a home’s worth, you can exclude some of the search results. We, for example, wanted to see prices for two-bedroom condo units (such as our selected unit) so we eliminated all the one- and three-bedroom units from our comparables list, as shown below.

Now we have several relevant sale prices that can be used as a rough estimate of the property’s market value. Nevertheless, keep in mind that every property is unique and equipped with amenities that can render it more or less desirable.

To check availability in your area, click here. For more information on how to determine a property’s market value and to see a step-by-step guide on how to use our Comps tool, please go to our Help page.

]]>New York City foreclosure activity has gained traction in 2014, the number of distressed properties ending up on the auction block reaching a total of 1,560. That’s 33% more than in 2013 and stands as a 2-year high.
On a more positive note, pre-foreclosures have experienced a 17% drop from 2013.

2014 Foreclosure Stats for Each Borough

In terms of volume, Queens was the undisputed leader, with a total of 617 properties up for auction – accounting for a striking 40% of all NYC first-time foreclosures. The worrisome number of 2014 Queens auctions is 56% greater than 2013’s total of 395.

Surprisingly, the Bronx was the only NYC borough to see a decrease, first-time foreclosures dropping by 4% in 2014. But don’t let the slight drop fool you, as there were 326 first-time foreclosure auctions held in 2014.

Brooklyn experienced a steady climb in foreclosure activity throughout 2014. Each quarter registered an increase from the previous one, ending 2014 with a total of 343 foreclosures.

Manhattan saw a mild increase of 7% in 2014, with the highest number of foreclosures recorded in Q2, when 43 properties hit the auction block. Not since Q3 2012 has Manhattan seen such a high volume of auctions.

Staten Island surpassed Manhattan by merely 10 auctions, but does seem to be on an ascending path with the number of foreclosures nearly doubling from 2013. However, Staten Island can only claim 143 first-time foreclosures out of the 1,540 total.

NYC Pre-Foreclosures Dropped to 2012 Levels

Aside from a Q2 spike, 2014 pre-foreclosures in New York City saw a steady drop from 2013 rates. By Q4 of 2014, the levels had returned to lows not seen since Q2 of 2012.

Year-over-year, pre-foreclosures were down 17%, hopefully setting the scene for a positive trend in 2015.

]]>Famous for its eclectic architecture, artsy vibe, rolling hills and steep streets, San Francisco has also become synonymous with pricey real estate in recent years.

To see exactly what ‘pricey’ means here, we looked at home sales across the city to find the neighborhoods that registered the highest median prices for sales completed in 2014.
Not surprisingly, location and view come with hefty price tags. Most of the priciest neighborhoods are located along the coast of the San Francisco peninsula or in the heart of the city.
Without further ado, here are San Francisco’s most expensive neighborhoods of 2014.

#10. Balboa Terrace

Median sale price: $1,637,500Median price/square foot: $807
Although it only comes in at #10, the median sale price in Balboa Terrace increased 20% in 2014 compared to 2013. One of the oldest subdivisions in the Mount Davidson area, this upscale residential community features a beautiful mix of single-family homes, pedestrian-friendly walkways and elegantly landscaped boulevards. Home styles vary a great deal, from Spanish Mediterranean to Italian Renaissance Revival and Victorian architecture, each adding charm to this picturesque District 4 neighborhood.

#9. Lake Street

Median sale price: $1,746,000Median price/square foot: $876
Lake Street, located in San Francisco’s District 1, comes in at number 9 in our list. Registering a slightly bigger median sale price in 2014 as compared to 2013 and also a 25% increase in the median price/sq ft, this neighborhood offers its dwellers many advantages: convenient access to shopping and dining destinations, biking and hiking trails, good schools, and a true neighborhood feel. Also, golfers and beachgoers feel right at home here thanks to the Presidio Golf Course conveniently located close to most residences and Baker Beach.

#8. Monterey Heights

Median sale price: $1,900,000Median price/square foot: $776
Also on an upward trend, at number 8 we find Monterey Heights. Situated on the western slope of Mount Davidson, this SF neighborhood boasts stately homes with large yards and an active neighborhood association that even includes a “welcome committee” for new residents. Being primarily considered a residential neighborhood, Monterey Heights has few retail or commercial outlets, characteristics that give it a quiet, charming, slightly suburban feel.

#7. Forest Hill

Median sale price: $1,901,000Median price/square foot: $834
In the same price range, at number 7 in our list you will find one of the friendliest and most serene San Franciscan neighborhoods, Forest Hill. This neighborhood is known for its impressive single-family homes and shaded streets, as well as its small town, rustic atmosphere that the residents take great pride in. With its feeling of remoteness and tranquility and its easy access to the restaurants, shops and pubs of the lively West Portal neighborhood, Forest Hill seems to be the perfect solution for someone trying to have it all.

#6. Marina

Median sale price: $1,920,000Median price/square foot: $1,116
Although not the most expensive, Marina is definitely the most popular neighborhood: with the biggest number of sales both in 2013 and 2014 (134 and 110 respectively), Marina is the home of the Palace of Fine Arts and it offers a great view of the iconic Golden Gate Bridge. But the true real estate hallmark of the area is represented by the barrel front houses and the art deco style buildings. Here, the single-family homes, apartment buildings and flats offer a wide range of housing options for home seekers and investors.

#5. Saint Francis Wood

Median sale price: $1,985,000Median price/square foot: $852
In the middle of our top 10 we find Saint Francis Wood, the last neighborhood with a median sale price under $2M. One of San Francisco’s most affluent neighborhoods, Saint Francis Wood houses are still extremely well appreciated for their views, classical designs, and spacious surroundings. Proof of the area’s dedication to beauty and harmony is the little known fact that, when it opened to home buyers, this neighborhood boasted the highest concentration of residences designed by prominent architects of the era in all of San Francisco.

#4: Cow Hollow

Median sale price: $2,100,000Median price/square foot: $1,161
With Cow Hollow, our list crosses the $2 million median sale price threshold, and the price’s 62% increase is quite an achievement for this charming part of San Francisco. This means that, despite not being the most expensive neighborhood, Cow Hollow was definitely the most sought-after in 2014. Nestled between the prosperous Pacific Heights and the trendy Marina, Cow Hollow offers a nice blend of mixed-use buildings and single-family residences, gorgeous specimens of Victorian and Edwardian architecture, as well as Art Deco era apartment buildings. Moreover, many residents believe that, despite its rather unglamorous name, Cow Hollow is one of the most livable neighborhoods, with friendly people and great entertainment opportunities.

#3 Presidio Heights

Median sale price: $2,337,500Median price/square foot: $1,092
#3 on the list is the only neighborhood that registered a decrease in its median sale price in 2014 as compared to 2013. But even with a 9% drop, Presidio Heights still has a median sale price only slightly under $2.4 million. In this neighborhood, luxury doesn’t take a back seat to family friendliness: all the homes here are beautiful and well-maintained. The large single-family homes, the multi-unit buildings and the condos on offer explain why so many residents are drawn to this part of the city. Another reason for the neighborhood’s popularity is its proximity to the Presidio of San Francisco, which offers nearly 3 square miles of greenery for recreation and exploration.

#2. Clarendon Heights

Median sale price: $2,450,000Median price/square foot: $1,000
Boasting one of the most steady real estate markets, Clarendon Heights managed to maintain both its number of sales and its median sale price almost unchanged from 2013. With its incredible views of the Golden Gate and Bay Bridges, this neighborhood also offers a lovely perspective towards San Francisco’s most famous hills, which are perfect for short walks, jogging, or smooth hikes. Primarily a residential community, Clarendon Heights’ Tudors and villas blend comfortably with the neighborhood’s more modern, sleeker homes, giving the area an eclectic feel.

#1. Sea Cliff

Median sale price: $4,725,500Median price/square foot: $1,206
By far the most expensive neighborhood in San Francisco, Sea Cliff has long been a favorite destination for affluent buyers in search of exclusive amenities and gorgeous ocean views. The median sale price in 2014 was $4,725,000, up 50% from 2013, which speaks volumes about the area’s current status and also its potential for the future. The quiet, private air of the neighborhood perfectly suits its wealthy residents, among whom we can mention Twitter founder Jack Dorsey, actress Sharon Stone, and Gap founder Don Fisher. The neighborhood displays outstanding single-family homes, lovely views of the Pacific and Golden Gate Bridge, great beaches, and long cycle lanes for avid bikers.

]]>http://www.propertyshark.com/Real-Estate-Reports/2015/03/16/top-10-priciest-neighborhoods-in-san-francisco/feed/0PropertyShark Real Estate BlogNYC Home Prices Up 2% in 2014, Luxury Market Thrivinghttp://www.propertyshark.com/Real-Estate-Reports/2015/02/25/nyc-home-prices-up-in-2014/
http://www.propertyshark.com/Real-Estate-Reports/2015/02/25/nyc-home-prices-up-in-2014/#commentsWed, 25 Feb 2015 15:09:27 +0000http://www.propertyshark.com/Real-Estate-Reports/?p=16044In New York City, the real estate market is as hot as it has ever been. Whether it’s local or international buyers, everybody wants ...

]]>In New York City, the real estate market is as hot as it has ever been. Whether it’s local or international buyers, everybody wants a piece of the Big Apple.

This huge demand for urban living has driven property prices up over the past 5 years, with the median price for a NYC home peaking at $505,000 in the third quarter of 2014, according to our latest NYC residential sales report.

2014 Home Sales Highlights

The median sale price of a NYC home increased 2% year-over-year, from $488,000 in 2013 to $499,655 in 2014.

In the fourth quarter of 2014, the median sale price fell 1% to $499,700 as compared to the third quarter but increased 7% from the fourth quarter of 2013.

The number of sales decreased 5% year-over year, from 41,546 in 2013 to 39,518 in 2014.

Not surprisingly, the biggest price gains were in the Manhattan submarket, where the median sale price hit $941,882 in the fourth quarter of 2014.

Luxury Market Thriving in NYC

NYC’s luxury residential market has eyes set in one direction only: up. The number of sales over $5M completed in 2014 climbed 26% from 2013.

The highest number of closed luxury sales was registered in Manhattan, where developers build for sky-high prices. There were a total of 757 home sales with prices above $5 million completed in Manhattan in 2014, up 25% from 2013.

One57, the stunning Midtown skyscraper at 157 West 57th Street, contributes heavily to the soaring median prices in the luxury segment. Condos in this ultra-high-end building sell for top dollar, with the latest sale breaking the $100 million barrier. According to The New York Times, a 10,923-square-foot duplex penthouse at the pinnacle of the tower sold for a whopping $100.5 million, making it the most expensive apartment ever sold in NYC.

Priciest Neighborhoods in 2014

SoHo and TriBeCa lead the pack as NYC’s most expensive places to buy a home, with the median prices reaching $2,717,500 and $2,573,041, respectively.

A pair of newly popular Brooklyn neighborhoods found their way into the top 10 priciest neighborhoods, while two perennial favorites – the Upper West Side and the Upper East Side – were pushed out of the top 10 list.

With a median price of $1,399,500 and an increase of 47% y-o-y, Brooklyn’s Dumbo came in fourth. The large median price increase in Dumbo is partly attributable to closings at 185 Plymouth Street where 10 sales with a median price of $3,016,020 were recorded in 2014.

Another unexpected presence in the top 10 list, Columbia Waterfront District, recorded a spectacular jump in home prices. The median price in the neighborhood was $1,195,000 in 2014, which is 83% higher than the $654,636 median price recorded in 2013. This huge increase was partly due to the high selling prices of units in a boutique condo building at 255 Columbia Street. The 12 units in this upscale development that were sold in 2014 went for a median price of $1,272,813.

]]>The Los Angeles residential real estate market boasted strong sales volumes and rising sale prices in 2014, mainly fueled by increased demand, low inventory levels, and consistent job growth. Median home prices have gone up 11% over the past year, making 2014 the third consecutive year of growth for the local real estate market.

Median price of L.A. homes rises, number of homes sold falls

According to PropertyShark’s Los Angeles Home Sales Market Report, the median price reached $442,000 in 2014, up 11% from $400,000 in 2013, and up 34% from $330,500 in 2010. The median price per square foot mirrored the same growth rate and stands at a five-year high. It hit $317 in 2014, up 12% from the previous year and up 33% from 2010.

The total number of transactions dropped 13% year-over-year, but due to the surge in median sale prices, the sales volume was slightly up by 1% year-over-year, exceeding $50 billion for the second year in a row.

In 2014, most homes sold for prices between $200k and $600k. Luxury home transactions – defined as homes that sold for $1M or more – made up some 13% of the county’s residential sales; 8% of sales had prices lower than $200,000.

Luxury Home Sales Market Picks Up Steam

Luxury sales, namely homes that sold for $1M or more, have withstood a market-wide two-year decrease in transactions and closed the year beyond the 10,000 closed sales milestone. Five years ago, this segment accounted for only 5,211 transactions or 6% of all closed sales in the county.

The priciest zip code in Los Angeles County was 90402 in North of Montana (an upscale area in Santa Monica), which tied for first place with 90210 in Beverly Hills. The median price in both zip codes was $3.1 million in 2014.

Surprisingly, Los Angeles’ most expensive homes of 2014 weren’t clustered in either Beverly Hills or Santa Monica. The beautiful Holmby Hills in western Los Angeles was home to most of the priciest sales of 2014, the top one closing at $88.3M.

]]>http://www.propertyshark.com/Real-Estate-Reports/2015/02/24/los-angeles-home-prices-at-five-year-high/feed/0PropertyShark Real Estate BlogThe 20 Most Expensive Zip Codes in Silicon Valley: Atherton’s 94027 Holds Strong at No.1http://www.propertyshark.com/Real-Estate-Reports/2015/02/17/top-20-most-expensive-zip-codes-in-silicon-valley-by-sale-price/
http://www.propertyshark.com/Real-Estate-Reports/2015/02/17/top-20-most-expensive-zip-codes-in-silicon-valley-by-sale-price/#commentsTue, 17 Feb 2015 16:15:32 +0000http://www.propertyshark.com/Real-Estate-Reports/?p=16004The home of some of the country’s most prominent tech companies is also home to the most expensive residential real estate in the nation. ...

]]>The home of some of the country’s most prominent tech companies is also home to the most expensive residential real estate in the nation.

Silicon Valley continues to see increased demand for high-end single-family homes, with zip code 94027 in Atherton, CA standing out as the area’s most expensive place to buy. In fact, according to San Francisco Curbed, 7 out of the 71 billionaires who reside in the Bay Area have a primary residence in Atherton.

To see which Silicon Valley zip codes attract the most affluent buyers, we went through the 2014 sales data and we’re ready to reveal the area’s 20 most expensive zip codes.

The 20 most expensive zip codes in Silicon Valley were either in Santa Clara or San Mateo counties: 12 were in San Mateo, while 8 were in Santa Clara. The area’s real estate is on fire thanks to top sales in towns like Palo Alto, Woodside, Los Altos and Atherton.

Zip code 94027 in Atherton clinched the top spot with a median sale price of $3,900,000. The swanky town in the heart of Silicon Valley is a unique community – a perfect blend of thoughtfully designed neighborhoods, beautiful mansions, gorgeous natural settings, top-rated schools, and first-class amenities.

The location is one of the big draws of Atherton. Just a stone’s throw away from Menlo Park and Palo Alto, which many tech giants call home, including Facebook, Google, Oracle, and Apple, Atherton offers residents a convenient commute. Another advantage it has over other prestigious locations is its relatively relaxed building regulations, according to Forbes, which ranked Atherton’s 94027 zip code as the most expensive not only in California but in the entire country. The exclusive residential enclave is home to several of the tech industry’s top executives, including Microsoft co-founder Paul Allen, Google chairman Eric Schmidt, and HP CEO Meg Whitman.

Two zip codes in Los Altos Hills – 94022 and 94024 – took second and third positions respectively. A beautiful mix of rolling hills and picturesque valleys, Los Altos Hills holds some of the most attractive and best-valued properties in The Peninsula. Homes in both zip codes increased 17% from 2013: 94022 had a median sale price of $2,450,000 while 94024 saw the median sale price hit $2,200,000 in 2014.

Zip code 94024 was closely followed by 94301 in Palo Alto which registered the same median sale price – $2,200,000. However, the median sale price of the latter grew by an astounding 50% year-over-year, up from $1,470,000 in 2013.

Median sale prices in the the top 20 zip codes went up, except for 94025 in Menlo Park where the median sale price remained flat year-over-year ($1,350,000 in 2014, unchanged from 2013) and 94028 in Portola Valley which saw a 4% drop in median sale prices.

Here is the complete list of Silicon Valley’s top 20 priciest zip codes:

]]>When it comes to residential real estate, New York City is the ultimate leader. From spacious penthouses to designer lofts and glamorous mansions, NYC’s most astonishing properties are spread across neighborhoods throughout the city. One thing they have in common though: they cater to deep-pocketed home buyers.

To see how hot the high-end real estate market really is, and which areas have attracted the wealthiest buyers, PropertyShark created a list of NYC’s top 50 priciest neighborhoods in 2014. Unsurprisingly, most of them were located in Manhattan, but we have a few serious contenders in Brooklyn and Queens as well.

Here are the top 10 most expensive places to buy a home in NYC, based on sales closed in 2014:

#10. Manhattan Beach, Brooklyn

Median Sale Price: $999,000

This sleepy waterfront community came in 10th with a median sale price of $999,000. It is home to many European immigrants who love its close proximity to the beach. The neighborhood is small and the properties on sale are few, hence the high home prices.

#9. Williamsburg, Brooklyn

Median Sale Price: $999,500

The neighborhood attracted many buyers with its exciting real estate transformation. As part of a gentrification process that’s been going on for years, Williamsburg’s ancient garages and warehouses have been converted into glitzy condo buildings which certainly don’t look out of place near the modern hotels, restaurants, sidewalk cafés, night clubs, and shopping centers.

#8. Chelsea, Manhattan

Median Sale Price: $1,067,054

This is where uptown affluence meets downtown style. Chelsea’s world-renowned art galleries embrace River Hudson in the west while lofts and townhouses dot the skyline in the east. The neighborhood had a median sale price of $1,067,054 in 2014.

Chelsea’s priciest home of 2014? An impressive condo in the Walker Tower at 212 West 18th Street, which changed hands for more than $50 million. Residences in this luxury condo building feature high-end finishes and amenities including custom French herringbone beveled oak flooring, hydronic radiant floor heating system, tilt and turn windows, marble and limestone countertops, as well as private outdoor space.

Walker Tower via official website

#7. West Village, Manhattan

Median Sale Price: $1,100,000

For a long time, this neighborhood has been known as a mecca for the innovative and rebellious. While it is largely residential, several interesting shops and restaurants prevent it from becoming monotonous. Its median sale price in 2014 was $1.1 million, up by 16% from 2013.

High Above The West Village by Heath Brandon via Flickr

#6. Columbia Waterfront District, Brooklyn

Median Sale Price: $1,195,000

Located just west of Cobble Hill and Carroll Gardens and south of Brooklyn Heights, this cozy neighborhood was the biggest gainer on our top 10 priciest neighborhoods list. Its median sale price increased by 83%, up from $654,636 in 2013. It is one of the few areas in Brooklyn that still remains resolutely 20th century feel. Flowering trees line its beautiful streets.

Among Brooklyn’s most popular new developments, 255 Columbia Street shines as a most delightful community. In addition to modern interiors and first-class amenities, this boutique condominium complex features a passive house design. The 12 units in this upscale development that were sold in 2014 went for a median price of $1,272,813, which helped pump up the neighborhood’s sale prices overall.

Featuring impressive interiors and breathtaking views of Central Park, and the Hudson and East Rivers, this 90-story condo building continues to attract affluent buyers. According to The New York Times, a duplex penthouse at the pinnacle of the glossy skyscraper sold for $100,471,452.77, thus breaking the record for the highest price ever paid for a single residence in New York City.

#4. Dumbo, Brooklyn

Median Sale Price: $1,399,500

Spectacular views of the Manhattan and Brooklyn bridges, as well as the Manhattan skyline, bustling atmosphere, thriving art scene, convenient waterfront access…these are just a few of the reasons why home buyers love Dumbo.

Dumbo saw a sound increase in home prices in 2014, the median sale price climbing 47% from $949,000 in 2013 to $1,399,500 in 2014. This steep ascent was closely related to the sales occurred in a condo building at 183 – 185 Plymouth St. Dubbed 185 Plymouth Street, the project was completed in spring 2014 and comprises 8 lofts averaging over 3,000 square feet plus two stunning penthouse apartments. All 10 units in the building have been sold at a median price of $3,016,020.

Dumbo Neighborhood, Brooklyn via dumbonyc, Flickr

#3. Flatiron District, Manhattan

Median Sale Price: $1,450,000

This neighborhood’s median sale price rose by 29% and it’s easy to see why: it has a quaint and gorgeous park, trendy shops, and a busy greenmarket. The Flatiron District is one of NYC’s best neighborhoods for condos and co-ops.

The area is not short of ultra-luxury apartment sales. A 7,066-square-foot condo in One Madison, a 60-story high-rise located at 23 East 22 Street, sold for $43,010,000.

Flatiron District by Dave Lindblom via Wikimedia Commons

#2. TriBeCa, Manhattan

Median Sale Price: $2,573,041

Initially a manufacturing and warehouse district, this neighborhood now houses co-op lofts and condos. It has apartments big enough to roller-skate in. Tribeca was the only loser in our top 10 priciest neighborhoods; its median price dropped by 2%, down from $2,621,994 in 2013.

Tribeca, New York by Frank Schulenburg via Wikimedia Commons

#1. SoHo, Manhattan

Median Sale Price: $2,717,500

SoHo is undeniably one of New York’s most desirable and eclectic neighborhoods. Many of its spacious apartments were built in the 19th century when developers used cast iron to build façades as they allowed for larger windows. The area’s median sale price rose by 16% from last year.

]]>Today we are excited to announce an improved experience regarding map area selection on PropertyShark.com thanks to our new Polygon Draw Tool. Several improvements have been deployed to the new tool which is now faster to work with and easier to use compared to our previous version. The goal was to offer our users a better tool they can use to refine their selection on Comparables and the Mailing/Data Lists services.

How to Use the Polygon Draw Tool to Create Mailing Lists

Let’s say you want to create a mailing list with homeowners’ names and addresses living on a certain block. With the new Polygon Draw Tool you can do so by clicking on the Polygon tab and selecting a specific block by defining the points of the polygon, as shown in the picture below.

Your polygon can have as many points as you want (at least 3), according to the search area of your interest.

Other important product updates: you can now browse foreclosure listings on your smartphone or tablet more easily, as we’ve added a series of new features to improve the mobile web experience for all PropertyShark users. More good news on the mobile front: we’ll be releasing a PropertyShark iOS and Android app later this year!

]]>For those who can afford the ultra-luxurious homes set in lush locations like Bel Air, Beverly Hills, Malibu, and Brentwood Park, the options are endless: posh estates, luxury villas, properties with expansive grounds, immaculate interiors, and first-rate amenities.

Surprisingly, Los Angeles’ priciest homes of 2014 weren’t clustered in Bel Air or Beverly Hills. Most of the sales were on the beautiful streets of Holmby Hills. One property, Brody House, achieved a difficult feat; it was sold twice in 2014.

To see which L.A. properties catered to the most affluent buyers in 2014, PropertyShark compiled a list of themost expensive homes sold in Los Angeles last year. Here they are:

The legendary William H. Doheny Estate at 475 Bel Air Road occupies 3.63 acres just North of Sunset Blvd. Built in 1963, the impressive property features more than 10,000 square feet of living space with superb city and ocean views.

Image via Point2 Homes

The estate includes a gated driveway with parking for approximately 15 cars and 4 enclosed parking spaces, according to Point2 Homes. It sold for $34 million in September 2014.

Tom Brady and his supermodel wife Gisele sold their home to another entertainment mogul, Dr. Dre, for $40 million.

Image via themls.com

The couple reportedly spent approximately $20 million designing and building the mammoth home over four years, and included unique touches such as a moat and a koi pond. The home has 5 bedrooms, 9 bathrooms, a gym, sauna, and loggia.

Located on 1.38 acres at the corner of South Mapleton Drive and Charing Cross Road, this luxurious estate was sold for $44 million.

Image via drewfenton.com

The property includes 8 bedrooms, 19 bathrooms, indoor and outdoor pools and a bowling alley, as well as fully functional, basement-level dental offices, and an operating room, according to The Hollywood Reporter.

At fifth position was 10231 Charing Cross Rd., a sprawling estate which changed hands for a whopping $45 million. It was put up for sale by Jamie McCourt (former Dodgers co-owner).

Image via theagencyre.com

Built in 1931, the contemporary European-style villa features first-class amenities including an Olympic size indoor pool, spa, steam and massage rooms, lush landscaping, and a sparkling outdoor swimming pool with waterfall.

Brody House at 360 S. Mapleton Dr, Los Angeles came in fourth. Comic genius Ellen DeGeneres splashed $39.88 million on the house in 2014 but couldn’t resist the offer she got from Sean Parker (Napster Founder) of $49.5 million the same year.

In third place was 1181 N. Hillcrest Rd. which was sold to Markus Persson, the creator of the popular game Minecraft. He outbid Beyoncé and Jay-Z to buy the mega-mansion with amenities like vodka and tequila bars, a car showroom, and a candy room.

Second on the list was the old Disney estate at 355 N Carolwood Dr, Los Angeles. Once Walt Disney’s dream home, it is now a limestone mega-mansion. It was put up for sale by Gabriel Brener, the owner of Houston Dynamo. In June 2014, it sold for $74 million.

Often referred to as L.A.’s Versailles, Fleur De Lys took the first position with a sale price of $88.3 million. The white elephant in Holmby Hills had been put up for sale in 2007 and finally found a buyer in March 2014.

Image via extravaganzi.com

Designed by Richard Robertson III, the European-style mansion is set on 4.6 acres and comprises 12 bedrooms, 15 bathrooms, a tennis court, and a ballroom for 500.

Just by looking at Los Angeles’ top residential sales of 2014, it is easy to see that real estate was booming. There were many bidding wars as well as all-cash offers. Some of the costly sales topped $70 million!

While it may take sellers a while to get a contract in Los Angeles, the wait is totally worth it.

]]>http://www.propertyshark.com/Real-Estate-Reports/2015/02/09/los-angeles-top-residential-sales-of-2014/feed/1PropertyShark Real Estate BlogTop 10 Most Expensive Places to Live in Los Angeles, Home of the Rich and Famoushttp://www.propertyshark.com/Real-Estate-Reports/2015/02/04/l-a-s-top-10-priciest-neighborhoods/
http://www.propertyshark.com/Real-Estate-Reports/2015/02/04/l-a-s-top-10-priciest-neighborhoods/#commentsWed, 04 Feb 2015 10:07:52 +0000http://www.propertyshark.com/Real-Estate-Reports/?p=15742Los Angeles may be known for its warm climate and its miles of beautiful coastlines interlaced with mountains ranges, but the city is also ...

]]>Los Angeles may be known for its warm climate and its miles of beautiful coastlines interlaced with mountains ranges, but the city is also known for its unique system of “eighty-eight cities within a city.”

These communities, from Santa Monica and Silverlake to Studio City and Beverly Hills, are full of real estate options, from old Hollywood architectural homes to sleek modernist houses overlooking the ocean or downtown city lights.

Los Angeles, California

To make luxury Los Angeles real estate decisions as simple as possible, we compiled the top 10 most expensive neighborhoods in Los Angeles from 2014 and 2013 PropertyShark data.

Without further ado, here are L.A.’s top 10 priciest neighborhoods:

#10. Beverly Hills

Median sale price: $2,000,000

A perennial favorite of the rich and famous, Beverly Hills sees the most sales with a little over 300 homes sold each year. The affluent neighborhood had a median sales price of $2 million for 2014, slightly down from $2.152 million in 2013.

Single-family home for sale in Beverly Hills via Point2 Homes

#9. Oak Knoll, Pasadena

Median sale price: $2,066,000

Oak Knoll also saw median sale prices jump from $1.722 million in 2013 to $2.066 million in 2014. The upscale neighborhood is rich in cozy bungalows, historic homes as well as posh dwellings.

Home for sale in Oak Knoll, Pasadena, CA via Point2 Homes

#8. El Porto, Manhattan Beach

Median sale price: $2,100,000

The median sales price for El Porto showed the most promising sales jump from $1.365 million in 2013 to $2.1 million in 2014. Home to many surfers and outdoor enthusiasts, this beach community features quaint homes with spectacular ocean views and a great variety of shopping and dining destinations.

El Porto, California by Pedro Szekely via Wikimedia Commons

#7. Malibu

Median sale price: $2,150,000

No luxurious and expensive Los Angeles real estate list would be complete without the city of Malibu. Malibu has long been known for its expansive land lots and its ability to provide homeowners with ocean views and mountain views. The median sales price for 2014 was $2.15 million. It fell slightly behind the Pacific Palisades due to its lower median sales price in 2013 of $1.365 million.

Single-family home for sale in Malibu, CA via Point2 Homes

#6. Pacific Palisades, Los Angeles

Median sale price: $2,150,000

Our sixth spot goes to the city of Los Angeles’s community Pacific Palisades. It was easily the most active real estate area on our list with more than 400 homes sold in 2013 and 2014. The median sales price rose as well from $1.922 million in 2013 to $2.15 million in 2014. The neighborhood is known for its family friendly environment and picturesque nature view.

#5. Sand Section, Manhattan Beach

Median sale price: $2,266,000

The upscale neighborhood in Manhattan Beach known as Sand Section is most notable for its special walk streets and lavish oceanfront homes. Ranking among the top choices of home buyers in the Los Angeles area, the Sand Section features homes with median prices ranging around $2.266 million.

Homes for sale in Manhattan Beach, Sand Section via Point2 Homes

#4. Hill Section, Manhattan Beach

Median sale price:$2,350,000

Featuring unparalleled ocean and city views, the Hill Section leads the Sand Section with a median sale price of $2.350 million, though the Sand Section sold nearly three times as many homes in 2014. Manhattan Beach is attracting younger wealth for its direct access to great surf spots and entertaining nightlife.

#3. Bel Air, Los Angeles

Median sale price: $2,430,000

The third spot on our list goes to the city of Los Angeles in the community known as Bel Air. This celebrity filled neighborhood is famous for its seclusion and mountainous views. In 2014 and 2013, more than 100 homes were sold (113 and 115 respectively) for a median sales price of $2.430 million. This area continues to be an excellent choice for luxury homes with a variation of a mere 1% between the two years.

Bel Air home via PatriciaSingerRealEstate.com

#2. Hidden Hills

Median sale price:$2,725,000

Our next luxury city for Angelenos is the city of Hidden Hills. With a strong median sales price of $2.725 million in 2014 for 40 homes sold, the gated community is known for its simple, romantic country way of life.

Home for sale in Hidden Hills, CA via Point2 Homes

#1. North of Montana, Santa Monica

Median sale price: $3,100,000

First on our list is the city of Santa Monica, or more specifically, the neighborhood North of Montana in Santa Monica. In 2014, there were 114 homes sold with a median sale price of $3.1 million. Santa Monica residents tend to enjoy the community’s focus on pristine sidewalks and its closeness to the ocean.

North of Montana in Santa Monica by Sunsetwatcher via Wikimedia Commons